The afternoon stock market news reported that rising credit risk at SoftBank Group was weighing on the market, while Mizuho FG's decline was linked to movements in the debt markets and rising US long-term interest rates. At CHANGE HD, related services were temporarily suspended, and CKD's proposed secondary offering price was announced.
Information circulated that credit default swaps, which indicate SoftBank Group's credit risk, had risen to their highest level in about 4 years, putting the company's shares under downward pressure. Regarding fundraising for OpenAI, reports citing people familiar with the matter said that participation in a funding round of around $30 billion was under discussion.
Mizuho FG fell sharply in the afternoon session, as declines in bank stocks spread against the backdrop of oil prices and long-term interest rates in European and US markets. While the Japanese Ministry of Finance's 20-year bond auction showed a record-high bid-to-cover ratio, bond futures were bought in the yen bond market, pushing long-term interest rates lower. This intensified downward pressure on bank stocks, with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group also extending their declines.
CHANGE HD announced that its subsidiary Trust Bank had detected suspected unauthorised access to its hometown tax donation website and would temporarily suspend related services to prevent the damage from spreading. Selling emerged on uncertainty about the outlook.
After the close of trading, CKD announced its policy of setting the secondary offering price at ¥4,737.
While semiconductor-related stocks, including Kioxia Holdings, traded weakly, Veritas in Silico announced the achievement of a drug discovery milestone jointly developed with Toray, prompting a reaction in its share price.
ReNet Japan announced a third-party allotment and fundraising, sending its share price to the daily limit high.